Purpose: This chapter covers the process for determining a fair and reasonable price related to information technology (IT) procurements.
- All IT procurement professionals have a fiduciary responsibility to analyze the price or cost the Commonwealth pays for its IT goods and services.
- A fair and reasonable price is characterized by factoring industry and market pricing with the expected value and quality of products, solutions and/or services to be received. Fair and reasonable does not necessarily mean the lowest offer.
- Fair and reasonable pricing is determined by conducting either a price analysis or cost analysis.
In this chapter
9.1 Fair and reasonable pricing
9.2 Price or cost analysis requirement
Search the manual by key words or common terms.